Adani Deal Arrangers Eye Scraps From Expected $12 Million Payday
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Arrangers of Adani Enterprises Ltd.’s scrapped 200 billion-rupee ($2.4 billion) equity offering will now have to scramble to recover minuscule fees from what was supposed to be the country’s biggest-ever follow-on share sale.
The bulk of the $12 million in fees that investment banks were set to earn was dependent on the success of the deal, people with knowledge of the matter said. They’re now expecting only minimal compensation for their work on the offering, according to the people, who asked not to be identified because the information is private.